Essay on Business Entrepreneurs

924 Words Jul 23rd, 2015 4 Pages
The entrepreneur is the pioneer, the managers the applier of existing best practices. The entrepreneur engages in strategic activity, the managers need to focus on tactical or operational activity. The entrepreneur formulates a strategy, the manager implements that strategy. Business success will depend on the continuing renewal and application of the entrepreneurial spirits. Business success depends on the application and an efficient management team. The attrition rate of any new business is extremely high. In the US, the supporter of the entrepreneurial spirit, numerous new enterprises will fail each year. However in a long-term historical perspective, business success is short-lived. Only a handful of the largest companies with break …show more content…
While a state owned company primarily serves the citizens of the state, the primary goals of a privately operated company are to make profit. It may make these profits at the expense of its customers without serving them properly.

A number of not-for–profit organizations in the United States have been converting to profit-making. Why would a not- for- profit organization want to change its status to profit- making?
Profit firms also enjoy exemptions from various other state, local, and federal taxes. Under certain conditions, these firms Lead benefit from the tax deductibility of donors' contributions and membership dues. In addition they qualify for special reduced-cost mailing privileges. These benefits are allowed because private nonprofit are typically service organizations, which are expected to use any excess of revenue over costs and expenses a surplus rather than a probe either to improve service or to reduce the price of their service. This service orientation is reflecting fact that not-for-profit organizations do not use customer to refer to the recipient of the service.

What are the pros and cons of doing so?
Typically not-for-profit organization will include private nonprofit corporations such as hospitals, institutes, private colleges, and organized charities as well as public governmental units or agencies such as welfare departments, prisons, and state universities.
Some of the pros

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